Social Engineering failing, despite best efforts of The Fed
Heard on NPR’s 3/9 All Things Considered: Mortgage Rates Remain Relatively Low
Mortgage rates remain low by historic standards despite an economic recovery, a fact that leads economists to use words such as “confounding” and “mysterious” to describe the trend.
As both of you know, I really hate the government’s attempts at social engineering with the help of The Fed and our tax system, so this story really amused me. Even Greenspan is confused by the finance sector’s reluctance to heed The Fed’s beck and call.
I really appreciate lenders paying attention to the market and ignoring all the gloom and doom. Heck, I just might have to show my appreciation by refinancing.